Those budget cuts, in full

My fellow pundits seem greatly impressed by the budget’s “austerity,” to judge by the headlines and commentary that appeared afterward. Here, then, in graphic form, is just how austere it was.

The chart on the left tracks program spending over the next several fiscal years as projected in the September 2009 fiscal update, in billions of dollars. On the right is the spending track contained in this week’s budget — that is, after the cuts that had everyone swooning.

No, you’re right: they’re practically identical.

MORE, MUCH MORE: And of course, spending in this “austerity” budget totals nearly $28-billion more over three years than in last year’s “stimulus” budget. Strange but true:

Spending in fiscal 2010, as of 2009 budget, $229.1-bil; as of 2010 budget, $237.8-bil.

Spending in fiscal 2011, as of 2009 budget, $236.5-bil; as of 2010 budget, $249.2-bil.

Spending in fiscal 2012, as of 2009 budget, $235.1-bil; as of 2010 budget, $241.4-bil.